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ThaiBev's Sustainability Approach
ThaiBev has become the leading beverage company in ASEAN, while positively impacting both the environment and society. The company embraces the Sufficiency Economy Philosophy (SEP) of His Majesty King Bhumibol Adulyadej The Great, adheres to the 17 United Nations Sustainable Development Goals (UN SDGs) and the principles of the UN Global Compact.
Sustainable Development Approach
We create accountability and transparency through our participation and disclosures in the Task Force on Climate-Related Financial Disclosures (TCFD), Global Reporting Initiative (GRI) and CDP. We then set clear goals and action plans to improve our performance in all areas, especially in those that represent key materials issues related to our operations or impacting society at large.
Sustainability Strategy
ThaiBev’s Corporate Sustainability Structure
We recently revised our sustainability governance structure to ensure that our sustainability strategy will be fully integrated with our business transformation. This structure requires strong commitment and substantial engagement across our many business units in multiple countries and recognizes the interlinkage between sustainability, business strategy and risk management.

Engagement and leadership begins with our Board of Directors, which is responsible for overseeing and determining the company’s overall ESG, business and risk strategies, and guiding the organization toward stable and sustainable growth for the benefit of all stakeholders.

The Board-appointed Sustainability and Risk Management Committee (SRMC) further helps formulate the company’s ESG strategy and risk management policies, and oversees ESG and risk management activities in accordance with the policies and strategies set by the Board.

For the first time, in 2022 the President and CEO appointed an Executive Vice President, to act as Chief of Sustainability and Strategy, to ensure the company’s group strategy and business transformation is integrated with its sustainability plans. Chief of Sustainability and Strategy also serves as secretary of the Sustainability and Risk Management Committee (SRMC), which is supported by the Sustainability Development Working Team (SDWT). SDWT, comprised of representatives from different business units, develops plans and ESG projects and participates in corporate sustainability assessments that verify the comprehensiveness of material sustainability topics. The SDWT also monitors and reports the progress of ESG programs to the SRMC.
Stakeholder Engagement
ThaiBev has created guidelines for appropriate stakeholder engagement, emphasizing the promotion of creative engagement through various activities and communication channels. The feedback is useful in determining the strategy, direction, plans and guidelines for future business sustainability development and for the prevention of risks or impacts from business operations.

Sustainability Materiality Issues
To ensure sustainable and efficient development operations in line with the Global Reporting Initiative (GRI) standards, Thai Beverage Public Company Limited regularly conducts assessments/reviews of key sustainability issues every year. These assessments cover all three dimensions of sustainability: governance/economy, society, and environment, according to the organization's context. They align with global trends and are relevant to the food and beverage industry.

The assessments follow the principle of Double Materiality, which evaluates and prioritizes issues that may impact stakeholders and affect Thai Beverage's sustainability efforts. In this process, Thai Beverage begins with studying and understanding the sustainability context of the organization, identifying both actual and potential impacts, and assessing their significance. They engage with internal and external stakeholders and consult sustainability experts before ranking the most significant priorities.

Enterprise Risk Management, including testing issues with experts, is employed to evaluate risks associated with these priorities. This evaluation is crucial before presenting the findings to the board of directors for approval. The process of assessing key sustainability issues follows these steps and includes the following details:

Understanding the organization's context.
In accordance with the operational context and sustainability strategies of the Thai Beverage Group, Thai Beverage has conducted a study to understand key sustainability issues. This is to ensure relevance and alignment with the current global trends, considering research from various sources such as the World Economic Forum (WEF), S&P Global's indices and assessments, the Sustainability Accounting Standards Board (SASB), as well as international frameworks like the United Nations Sustainable Development Goals (UN SDGs). Particularly, issues related to the food and beverage industry are examined, along with reports and studies from companies in the same industry, and the concerns of internal and external stakeholders are taken into account. This comprehensive approach enables the collection of sustainability issues that are in line with the context of Thai Beverage. These issues are expected to have an impact on the company's sustainability and will be further assessed for their potential impacts and opportunities in the next phase.
Identifying actual and potential impact and assessing the significance of the impact.
To gather insights from stakeholders and sustainability consultants in identifying actual and potential impacts, Thai Beverage has engaged in activities to involve key stakeholders both internally and externally. In the initial step, experts were requested to analyze and provide feedback on issues that have the potential to impact Thai Beverage's sustainability operations, including their effects on stakeholders (shortlisted issues) and the possible forms of impact.

Following that, the company followed the principle of double materiality by conducting a materiality assessment through an online platform (Google Form). This allowed both internal and external key stakeholders to participate in evaluating the positive and negative impacts (positive and negative impact) that have occurred or may occur as a result of Thai Beverage's activities related to each identified issue. The assessment also covered economic, social, and environmental aspects, designed in a survey format based on the organization's enterprise risk management approach. It included an evaluation of the likelihood of both actual and potential opportunities (actual and potential likelihood) and an assessment of the severity of impacts, both positive and negative. The severity levels of impacts were categorized into four levels: (1) Low, (2) Medium low, (3) Medium high, and (4) High severity, as illustrated in the figure.

By conducting surveys with each group of key stakeholders, the results were gathered and analyzed together. These findings were then presented to the Sustainable Development Working Team (SDWT) and the management of Thai Beverage for the next steps.

Prioritizing the most significant issues for reporting.
In this stage, Thai Beverage reevaluated various important issues by following the principle of double materiality, considering the impacts of each issue on the company's sustainability operations. The SDWT team collectively determined the Materiality Threshold of the impacts of the identified issues in both financial and non-financial dimensions, referring to the criteria outlined in the organization's enterprise risk management approach. Subsequently, the results obtained from each key stakeholder group's survey were reviewed before evaluating and prioritizing the issues with the highest impact (most significant) on Thai Beverage. To validate the findings, Thai Beverage conducted a materiality test with independent experts who have no affiliation with the company, both domestically and internationally. This was done to gather opinions on the assessment process and the identified issues. Following this, the two sets of results were presented to the Board of directors to seek feedback and obtain approval on the most significant sustainability issues (priorities most significant) for the company. These priorities would serve as guidelines for managing sustainability and disclosing information in future reports.
  • Water Stewardship
  • Climate Change
  • Waste Management and Circular Economy
  • Sustainable Supply Chain
  • Corporate Governance and Business Ethics
  • Product Quality and Safety
  • Data Security and Privacy
  • Community Development and Partnerships
  • Talent Attraction and Retention
  • Human Capital Development